Golden Independence Acquires Additional 480 Acres
Vancouver, November 19, 2020 - Golden Independence (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce it has entered into an agreement with General Gold Corporation to acquire a key 480-acre land parcel located near the Company's flagship Independence project and within Nevada Gold Mines' permitted Plan of Operations. The land parcel, consisting of the N ½ and the SW ¼ of Section 17 Township 30 N Range 43 E ("Section 17"), was previously granted water rights in 2013 by the State Engineer of Nevada. The purchase price is US$55,000.
"The strategic importance of water rights in the Buffalo Valley River Basin is the key to this land purchase," commented CEO Tim Henneberry. "JUB Engineering will refresh and resubmit the water rights application previously approved by the State of Nevada. A secure independent supply of water is the final infrastructure item needed for the development and operation of a heap-leach operation at Independence."
The Section 17 parcel lies within the Nevada Gold Mines Plan of Operations and increases the Company's total Independence land holdings to 1120 acres, consisting of unpatented mineral claims, mill site claims and the Section 17 fee simple land.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada. Nevada Gold Mines is a joint venture owned 61.5% by Barrick Gold Corp. and 38.5% by Newmont Corp..
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Tim Henneberry, Chief Executive Officer
Telephone: 1.250.715.5329 Email: t.henneberry@goldenindependence.co
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans and results of exploration and the magnitude and quality of the Independence Property, the Company's near term exploration plans and the preparation of an updated mineral resource statement for the Independence Property. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties and the risk that such results cause the Company to elect to terminate the Option Agreement; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68540